These questions can definitely help quantify a fraud. In other words, if he can't see right through how much BS and irrelevance there is in them, he should be dismissed.
free in thread mentorship
- Thread starter AttoCEL
- Start date
I think what he is highlighting is the value of articulating precisely what and why you are doing it. I think that is very appropriate.
Sure. Not sure I understand what the 'risk per trade' reference means, as risk limits are determined initially, but if it means don't worry about volatility conditions as long as the criteria is met, then don't worry about that, have faith in your math, then I definitely agree.
There are definitely forex scams out there that are nothing more than mlm schemes, so experienced traders are going to be naturally skeptical of free mentoring. We all have different perspectives through experience, and I don't see anything here is particular that's distorting. But what are your goals in mentoring someone, and are you ultimately interested in them opening an account through you or your affiliation(s) etc. or buying your services? Those would be red flags. New traders could absolutely gain from a good mentor, but they are vulnerable to know whether or not they are getting info of true value.
As for pros and cons of forex trading [imho]:
Relatively low volatility most of the time (pro and con)
Ability to use high leverage (pro and con)
Large game-changing gaps on news (con)
Front running by banks (con)
Forex trading enticement scams (con)
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Can I see your last 10 trades? Either on a chart or via fills from your broker? Its a serious question because once I see this, I get a sense of your profitability, R:R ratios, drawdown potential, entry precision, fear factor, etc.
Why do you say its a distraction?
Limiting risk per trade allows us to trade bigger size and at the same time it gives us the confidence that our account will survive a series of bad trades
Just because you feel this way, does not make it the truth. be humble when you are confused
there are more innovative ways to survive a series of bad trades. stay open minded until you master all the math
ideal risk management is counter intuitive, takes a while to accept that time money and energy are the three things we value most. this is why the higher performing the system, the more time money and energy you will have, so you are effectively practicing low risk, like i said its counter intuitive.
this is why we struggle to find the right system because we limit our creative ability with stupid fear based traditional rules like risk per trade. dont be afraid to think radically, be a contrarian, without bias, without limitations, no matter how radical the idea, test it, master the math and base your beliefs on the numbers.. i mastered 90% of the math, it is the source of my confidence. you are exposing your limited perspective and lack of awareness
Still can ask for a proof or your records , in a very humble way